Do Owners of betting companies bet?

[wxa7115]

I think most of them do not place bets, because this can lead to the destruction of the business if you get too carried away with it. The owners know perfectly well how their business works, and if it is a profitable business, then why all this? They can also place bets and show how they play or test new games. I have been following one public gambler for a long time; he lost huge sums, but at some point he decided to open his own casino. Now he has moved to live in Portugal and is buying himself expensive cars. Despite this, he continues to place bets, because his business allows him to do this and he is very happy with his life. Still, there are very few public casino owners and we cannot know complete statistics on their bets, but it would be very interesting to take a look at this.

The op asked this question because he did not understand the power of ownership. Once you recognise the owner of something, it therefore means that the owner has the right to do whatever things he wishes to do with his possession. Asking if the owner of a casino can as well gamble in his casino. Whether or not it is ethical is just like asking if the owner of a grocery store has the right to purchase goods in his own store. The question doesn't correlate very well of course.

The store analogy has a serious limitation, and that is that a store owner cannot enter an antagonistic relationship with their clients, something that is possible with a casino owner.

If a casino owner decided to gamble at a poker table they suddenly have a massive advantage over any other player, since the dealer is their employee and most casinos have cameras everywhere, and in the case of online casinos they could take directly a look at your cards before that information was even sent to you through your internet connection, and even if the casino owner did not cheat, just the fact they can do it presents a massive conflict of interest.

[len01]

-snip

If a casino owner decided to gamble at a poker table they suddenly have a massive advantage over any other player, since the dealer is their employee and most casinos have cameras everywhere, and in the case of online casinos they could take directly a look at your cards before that information was even sent to you through your internet connection, and even if the casino owner did not cheat, just the fact they can do it presents a massive conflict of interest.

well, this is what most gamblers out there are afraid of when betting at the poker table but all the gamblers dont know that one of the gamblers is the casino owner and this makes a bad thought if other gamblers find out while the gambling owner always wins even though not cheating, but still the minds of gamblers will think that the casino owner is cheating.

therefore, it is very rare for me to see gambling owners gambling in their own casinos because on the one hand, casino owners maintain the reputation of their casinos and avoid the danger of crimes that could threaten them because gambling owners have a lot of money. on the one hand, sometimes gambling addicts can go crazy and commit crimes against casino owners.
so it would actually be better if the casino owner did not participate in betting in his own casino rather than his reputation being damaged and becoming a very bad conflict in the long run.

[pinggoki]

well, this is what most gamblers out there are afraid of when betting at the poker table but all the gamblers dont know that one of the gamblers is the casino owner and this makes a bad thought if other gamblers find out while the gambling owner always wins even though not cheating, but still the minds of gamblers will think that the casino owner is cheating.

therefore, it is very rare for me to see gambling owners gambling in their own casinos because on the one hand, casino owners maintain the reputation of their casinos and avoid the danger of crimes that could threaten them because gambling owners have a lot of money. on the one hand, sometimes gambling addicts can go crazy and commit crimes against casino owners.
so it would actually be better if the casino owner did not participate in betting in his own casino rather than his reputation being damaged and becoming a very bad conflict in the long run.

They really can do that but I don't think that casino owners will ever cheat their customers/players even more because they're already making money out of them anyway. And in poker, the people that knows the owner will definitely be not playing with them on the table because as you've said they might've the advantage but I just like to think that casino owners aren't like that and that they don't like the idea of taking advantage of other players when they're already making money. Also, it's a bit weird that they have the time to waste gambling or even betting at their own places.

[Su-asa]

well, this is what most gamblers out there are afraid of when betting at the poker table but all the gamblers dont know that one of the gamblers is the casino owner and this makes a bad thought if other gamblers find out while the gambling owner always wins even though not cheating, but still the minds of gamblers will think that the casino owner is cheating.

therefore, it is very rare for me to see gambling owners gambling in their own casinos because on the one hand, casino owners maintain the reputation of their casinos and avoid the danger of crimes that could threaten them because gambling owners have a lot of money. on the one hand, sometimes gambling addicts can go crazy and commit crimes against casino owners.
so it would actually be better if the casino owner did not participate in betting in his own casino rather than his reputation being damaged and becoming a very bad conflict in the long run.

They really can do that but I don't think that casino owners will ever cheat their customers/players even more because they're already making money out of them anyway. And in poker, the people that knows the owner will definitely be not playing with them on the table because as you've said they might've the advantage but I just like to think that casino owners aren't like that and that they don't like the idea of taking advantage of other players when they're already making money. Also, it's a bit weird that they have the time to waste gambling or even betting at their own places.

One of the advantages a casino owners have is that they already knows the odds that played all the time, already they have specialists that deals on the odds and the odds specialists are not allowed to play because they know what odds that played and the one that get lost.
I will like to bet with a casino owner because as he already knows the odds which means anyone he plays will come and as he's playing I will also bet on that same odds too.
Some times the casino owner game might cut but there is always a possibility that his winning will be higher than his losing.

[len01]

-snip

They really can do that but I don't think that casino owners will ever cheat their customers/players even more because they're already making money out of them anyway. And in poker, the people that knows the owner will definitely be not playing with them on the table because as you've said they might've the advantage but I just like to think that casino owners aren't like that and that they don't like the idea of taking advantage of other players when they're already making money. Also, it's a bit weird that they have the time to waste gambling or even betting at their own places.

well, this is what I mean, the point is that it is impossible for a casino owner to waste time gambling in his own casino just to have fun because they already have a lot of profits from their gambling business so if the casino owner just wants to have fun, of course he has other ways to find entertainment to go to. take a vacation to another country with your family or go to a luxury club somewhere.
I always believe that a gambling owner will never damage the reputation of his own casino and previously I have said this in the same thread that has been locked if the casino owner does not have time to gamble because the casino owner has various references to be able to have fun in other ways without having to damage the reputation of the business and perhaps if the gambling owner tries to gamble it is just to test how fair the casino is.

but all this we never know whether what we are talking about is right or wrong because if we are talking about offline casinos maybe it is true but if we are talking about online casinos we never know whether the casino owner is also gambling with other gamblers.

[Fredomago]

-snip

They really can do that but I don't think that casino owners will ever cheat their customers/players even more because they're already making money out of them anyway. And in poker, the people that knows the owner will definitely be not playing with them on the table because as you've said they might've the advantage but I just like to think that casino owners aren't like that and that they don't like the idea of taking advantage of other players when they're already making money. Also, it's a bit weird that they have the time to waste gambling or even betting at their own places.

well, this is what I mean, the point is that it is impossible for a casino owner to waste time gambling in his own casino just to have fun because they already have a lot of profits from their gambling business so if the casino owner just wants to have fun, of course he has other ways to find entertainment to go to. take a vacation to another country with your family or go to a luxury club somewhere.
I always believe that a gambling owner will never damage the reputation of his own casino and previously I have said this in the same thread that has been locked if the casino owner does not have time to gamble because the casino owner has various references to be able to have fun in other ways without having to damage the reputation of the business and perhaps if the gambling owner tries to gamble it is just to test how fair the casino is.

but all this we never know whether what we are talking about is right or wrong because if we are talking about offline casinos maybe it is true but if we are talking about online casinos we never know whether the casino owner is also gambling with other gamblers.

Can only be answered by the owner himself. We never know if they are playing or not and to follow your statement, if they are going to find such things for entertainment. I see your point where they can just go on vacation and use the money that they already enjoy from the gamblers, instead of playing and risking their money, though maybe yes or maybe no, no one among us can conclude that unless they are here also, and they can prove that they are the owner after claiming and show proof that they are playing using their own platform.

[Accardo]

well, this is what most gamblers out there are afraid of when betting at the poker table but all the gamblers dont know that one of the gamblers is the casino owner and this makes a bad thought if other gamblers find out while the gambling owner always wins even though not cheating, but still the minds of gamblers will think that the casino owner is cheating.

therefore, it is very rare for me to see gambling owners gambling in their own casinos because on the one hand, casino owners maintain the reputation of their casinos and avoid the danger of crimes that could threaten them because gambling owners have a lot of money. on the one hand, sometimes gambling addicts can go crazy and commit crimes against casino owners.
so it would actually be better if the casino owner did not participate in betting in his own casino rather than his reputation being damaged and becoming a very bad conflict in the long run.

They really can do that but I don't think that casino owners will ever cheat their customers/players even more because they're already making money out of them anyway. And in poker, the people that knows the owner will definitely be not playing with them on the table because as you've said they might've the advantage but I just like to think that casino owners aren't like that and that they don't like the idea of taking advantage of other players when they're already making money. Also, it's a bit weird that they have the time to waste gambling or even betting at their own places.

One of the advantages a casino owners have is that they already knows the odds that played all the time, already they have specialists that deals on the odds and the odds specialists are not allowed to play because they know what odds that played and the one that get lost.
I will like to bet with a casino owner because as he already knows the odds which means anyone he plays will come and as he's playing I will also bet on that same odds too.
Some times the casino owner game might cut but there is always a possibility that his winning will be higher than his losing.

Gambling for a casino boss in his casino wouldn't be fun anymore since he's got the information about how the machine is being coded. Hence he's not doing himself any favor as a gambler to gamble in his casino. He's wasting the time and fun he's meant to achieve through gambling. I'd prefer that a casino owner visits other rich men who have some gambling cliques and participate in games with them, which is mainly the way it should be for the casino boss. Imagine winning and the money he won is his, no addition no subtraction. That wouldn't be fun for anybody. Consider being in his shoes, using your product should be considered no profits. What these men look for, is profitable means of maximizing the success of the casino, not just gambling. If he spent his time gambling he wouldn't be able to understand how the house is operating. However, they've got employees to take care of all that, but the presence of the casino boss changes lots of things from happening.

I've not spent time with one, but have watched them in movies, they are mainly in their office settling some disputes. Lots of disputes come out in casinos, especially offline casinos. Hence the owner would have lots of underlying problems he'll need to resolve to save the future of his business. He wouldn't have such a luxury of gambling. If he's into gambling or addicted to gambling, such a person wouldn't be able to make a competent casino boss. The business could be in trouble, but the boss wouldn't show concern about the dispute. Some of the casinos that run out of money or don't have enough money to pay their customers may have been owned by an incompetent owner, who may have squandered his time on other addictions, which takes up his money which would have been used in running the casino business. In a nutshell, a casino owner gambles, yes, but not like we would think that he does. His seat as the CEO of a casino is so hot that he can't sit down

[maydna]

Can only be answered by the owner himself. We never know if they are playing or not and to follow your statement, if they are going to find such things for entertainment. I see your point where they can just go on vacation and use the money that they already enjoy from the gamblers, instead of playing and risking their money, though maybe yes or maybe no, no one among us can conclude that unless they are here also, and they can prove that they are the owner after claiming and show proof that they are playing using their own platform.

That is up to each casino owner. They already know how to choose things that can entertain them. They can gamble wherever they want or go on holiday with whoever they want. And yes, we will only get a definitive answer if there are casino owners to say what they're doing. And even if those casino owners gamble on their own platforms, that's okay because they only gamble for fun and only occasionally. They have more things they can do than just sit down every day gambling and spending their money because they are better off using their money for more useful things or creating other new income sources.

[swogerino]

Do owners of betting companies place bet on their own platform or is there a policy specific policy that restricts them from betting. Do you think that there would be conflict of interest or that it will be unethical if owners bet on their own platforms. These are the questions that I am seeking an answer to.

I used to work in such a platform back in early 2000-s and it was just set up there,betting platforms were not as well known as they are now so a huge amount of people were betting there.I knew the owners as they hired me,they were my neighbors that opened the lotto club,a big one but as far as I remember I never saw them placing even a single bet just for the fun of doing it,so I know based on this fact that most casino or lotto club owners do not care much to place bets.Even Eddie,the Stake owner plays only on a Saturday just to decide the promotions for the other week and which would be the slot to beat the multiplier,so betting on sport betting I doubt they do.

[Blitzboy]

`

Gambling for a casino boss in his casino wouldn't be fun anymore since he's got the information about how the machine is being coded. Hence he's not doing himself any favor as a gambler to gamble in his casino. He's wasting the time and fun he's meant to achieve through gambling. I'd prefer that a casino owner visits other rich men who have some gambling cliques and participate in games with them, which is mainly the way it should be for the casino boss. Imagine winning and the money he won is his, no addition no subtraction. That wouldn't be fun for anybody. Consider being in his shoes, using your product should be considered no profits. What these men look for, is profitable means of maximizing the success of the casino, not just gambling. If he spent his time gambling he wouldn't be able to understand how the house is operating. However, they've got employees to take care of all that, but the presence of the casino boss changes lots of things from happening.

I've not spent time with one, but have watched them in movies, they are mainly in their office settling some disputes. Lots of disputes come out in casinos, especially offline casinos. Hence the owner would have lots of underlying problems he'll need to resolve to save the future of his business. He wouldn't have such a luxury of gambling. If he's into gambling or addicted to gambling, such a person wouldn't be able to make a competent casino boss. The business could be in trouble, but the boss wouldn't show concern about the dispute. Some of the casinos that run out of money or don't have enough money to pay their customers may have been owned by an incompetent owner, who may have squandered his time on other addictions, which takes up his money which would have been used in running the casino business. In a nutshell, a casino owner gambles, yes, but not like we would think that he does. His seat as the CEO of a casino is so hot that he can't sit down

I agree with your casino boss view. Besides gambling, they're strategic thinkers and involved in their industry. A casino owner gambling in his own casino is prohibited. They know how the games work, right? It eliminates gambling's thrill of chance. Second, playing high-stakes games with other moguls? Their true game. The key is networking, recognizing the competitors, and keeping ahead. Finally, their job requires attention outside the casino. They resolve disagreements, plan commercial growth, and protect their empire. High stakes, but not at the tables. They're continually gambling with their entire business on the business battlefield.

[dimonstration]

I agree with your casino boss view. Besides gambling, they're strategic thinkers and involved in their industry. A casino owner gambling in his own casino is prohibited. They know how the games work, right? It eliminates gambling's thrill of chance.

Lmao, Did you know that your real boss for your signature campaign casino “Stake” is the best example for this topic. Eddie play on his own casino and live stream it. He is using it as promotion for his casino through rewarding viewers. There’s no written rule that owner is not allowed to play since casino is using 3rd party games which means it’s really not their own game but rather they are just renting it and share profit with game providers. Only house game is 100% casino owned game.

Second, playing high-stakes games with other moguls? Their true game. The key is networking, recognizing the competitors, and keeping ahead. Finally, their job requires attention outside the casino. They resolve disagreements, plan commercial growth, and protect their empire. High stakes, but not at the tables. They're continually gambling with their entire business on the business battlefield.

All the function that you mention is assigned to different staff of the casino. Owner doesn’t do it because it’s for workers work. The only job of owner is the decision making for the casino sake and the rest is just cash out from casino profit because they finance the casino.

[borovichok]

Do owners of betting companies place bet on their own platform or is there a policy specific policy that restricts them from betting. Do you think that there would be conflict of interest or that it will be unethical if owners bet on their own platforms. These are the questions that I am seeking an answer to.

There's bulky questions to be answered but due to one's status, no one would welcome any idea brought to make contributions to the system. Not all bet companies owners engaged in gambling because they might become very busy with their time and also not ready to give up their initial capital, in the first place, we should know the spirit that comes when we gamble. I'm not ready to lose any significant figure in the system, we just have to become very careful and work vividly abiding by the govern sets of laws enacted by our disciplinary measures, all this are just for our safety from crossing boundaries.

[Mia Chloe]

Just like to every other person, betting is also a choice to owners of betting companies or platforms. Most owners of Betting platforms often engage in betting and other gambling activities themselves. As this helps them gain firsthand insights into user experiences and even dynamics of the market. This double role serves as valuable strategy  for their market research in guiding improvements on their platforms.
 
This should not be much of an issue due to the fact that the respective users of these platforms themselves actually deserve and want optimal user satisfaction hence, the need to understand what customers like and want.

[ethereumhunter]

Just like to every other person, betting is also a choice to owners of betting companies or platforms. Most owners of Betting platforms often engage in betting and other gambling activities themselves. As this helps them gain firsthand insights into user experiences and even dynamics of the market. This double role serves as valuable strategy  for their market research in guiding improvements on their platforms.
 
This should not be much of an issue due to the fact that the respective users of these platforms themselves actually deserve and want optimal user satisfaction hence, the need to understand what customers like and want.

Casino owners engage in betting to check how their casino provides the best experience to its users and to check what needs to be improved or added to improve service. This will be useful to provide an overview for casino owners to know if there are things that need to be improved so that the casino team can handle them immediately.

However, casino owners will not gamble too often because they better monitor the casino's running and provide the best for their users. Casino owners don't want themselves to become addicted to gambling like gamblers who lose self-control when gambling. Of course, casino owners will check how much profit they have made.

[Marvelman]

Just like to every other person, betting is also a choice to owners of betting companies or platforms. Most owners of Betting platforms often engage in betting and other gambling activities themselves. As this helps them gain firsthand insights into user experiences and even dynamics of the market. This double role serves as valuable strategy  for their market research in guiding improvements on their platforms.
 
This should not be much of an issue due to the fact that the respective users of these platforms themselves actually deserve and want optimal user satisfaction hence, the need to understand what customers like and want.

I'm curious to know where you got this info.  It doesn't seem to make sense that the people who own betting sites would play on them too.  That could definitely cause some conflicts of interest! I wanna see the research that says this is happening. 

Generally it's seen as pretty sketchy for a business to use its own stuff to gamble.  That can lead to the business having an unfair leg up or even insider trading sorta situations.

[len01]

-snip

Can only be answered by the owner himself. We never know if they are playing or not and to follow your statement, if they are going to find such things for entertainment. I see your point where they can just go on vacation and use the money that they already enjoy from the gamblers, instead of playing and risking their money, though maybe yes or maybe no, no one among us can conclude that unless they are here also, and they can prove that they are the owner after claiming and show proof that they are playing using their own platform.

very wise answer.
your answer is very correct because in fact we will never know whether everything we talk about here is true or not because only they (gambling owners) know everything about this truth. It's just that we are here only saying about our respective opinions but that doesn't mean all of that is true.
and on the one hand, we are currently in an online gambling trend where you will never know who is gambling on the platform because it is all based online and only certain people or gambling owners can know everything and for me as long as it doesn't have a bad impact on the gambling itself I think its not problem if  gambling owner gambles on his own platform but maybe only occasionally or even just once because I'm sure the gambling owner has a more convenient way to get entertainment.

[sujonali1819]

Do owners of betting companies place bet on their own platform or is there a policy specific policy that restricts them from betting. Do you think that there would be conflict of interest or that it will be unethical if owners bet on their own platforms. These are the questions that I am seeking an answer to.

Why will they actually gamble? For winning from gambling? then how it's possible, that if they lose their House will win, if they win, their house will lose? So from this point of view there is no reason to gamble in own platform. But For testing, fixing bugs, etc they can play and I assume it's normal.

[JMBitcointernational]

Do owners of betting companies place bet on their own platform or is there a policy specific policy that restricts them from betting. Do you think that there would be conflict of interest or that it will be unethical if owners bet on their own platforms. These are the questions that I am seeking an answer to.

Op there is no restricrion when it comes To individual betting And there is no Law that prevents the owners of betting shops not To bet it all depends on the individual And Choice. If the owner of a betting shop see an opportunity And potential chances To win , he or she will bet , beside i have seen several people who are owners of betting shop visit another betting shop To place their bets instead of their own And when i tried To enquire why they are doing such . He said that it is financial discipline that If he decides To bet in his shop he might end up not paying for the bets So he prefers another betting shop .

Lastly most of the owners of  betting shops are chronic Gamblers And often bets from time To time , they also Find money just like you and i And besides they are just Agents  And not the exact owners of the shops . And as such they try also To practice the betting To know If luck will shine  on them Too

[SeriouslyGiveaway]

Theoretically they can do whatever they want. But in reality, I think they won't do that, basically because they understand too well how their system works and what the win-loss ratio is. Would you play knowing what the outcome would be?

Attractive gambling is when we bet on something we do not know in advance what the outcome will be. It gives us excitement to play and wait. The casino owner is the one who creates the game, if they play for the purpose of making money, then sitting idle and not playing is already making money. If they are looking for fun, they will probably choose another game instead of the one they created.

[bettercrypto]

Do owners of betting companies place bet on their own platform or is there a policy specific policy that restricts them from betting. Do you think that there would be conflict of interest or that it will be unethical if owners bet on their own platforms. These are the questions that I am seeking an answer to.

Just because you are the owner of a casino doesn't mean you don't have the right to play on your own online casino platform. Of course, that's not the case. Maybe it's possible to play gambling on your platform where you don't withdraw money but can win money and withdraw as well.

Of course, you, the owner, can do everything you want to do in your own casino; you can bring in money, and I don't see anything wrong with that either.